To speed up the transformation and upgrading of industrial structure is the strong support for the maintenance of rapid economic growth in China under the new normal. This paper discusses the internal logic mechanism of the influence of land resource misallocation on industrial structure upgrading, and then uses the Chinese urban and industry level data to verify the hypotheses. It comes to the following conclusions:firstly, the local government "double second-hand" land supply strategy which excessively sell the industrial land by low prices and then is restrictive to sell the commercial and residential land by high prices is the root cause of land resource misallocation; secondly, land resource misallocation further intensifies the industry structure rigidity dominated by low-end manufacturing industries, and inhibits the transition of industrial structure from junior form to more advanced form, showing that land resource misallocation is an important factor restricting industrial structure upgrading in China; thirdly, land resource misallocation has heterogeneous effects on different industries and internal industry upgrading, and promotes the development of manufacturing and producer services, but has no significant effects on life and public services. In addition, the effect of land resource misallocation on the upgrading of industrial structure shows obvious regional bifurcation in East China, Central China and Western China, as well as significant temporal heterogeneity; the impact on East China is significantly positive, and the impacts on Central China and Western China are significantly negative.
Does Land Resource Misallocation Hinder the Upgrading of Industrial Structure? Empirical Evidence from Chinese 35 Large and Medium-sized Cities
Journal of Finance and Economics Vol. 43, Issue 09, pp. 110 - 121 (2017) DOI:10.16538/j.cnki.jfe.2017.09.009
Cite this article
Li Yonggang, Luo Haiyan. Does Land Resource Misallocation Hinder the Upgrading of Industrial Structure? Empirical Evidence from Chinese 35 Large and Medium-sized Cities[J]. Journal of Finance and Economics, 2017, 43(9): 110–121.
Previous: The Employment Effect of Chinese Firms Embedded in GVC: Empirical Evidence Based on PSM-DID and GPS Methods